Product pipeline and R&Dnegative · 4 filings
“The decrease was primarily driven by lower third‑party research and development program expenses, reflecting reduced activity in the ZW220, ZW251, and ZW171 programs.”10-Q · May 7, 2026 ↗
Zymeworks Inc.
ZYME
Market read
Zymeworks Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 21 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.
Company-2.7% todayVolume comparison unavailable
Market group0 of 21 activeOil & Gas and Biotech · unavailable
Disclosed network0 of 7 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- ZYME's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if ZYME's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 21 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- ZYME's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods6
Price observations319
Usable filing statements115
Verified relationships7
Evidence supporting the case
- Latest annual revenue changed +38.9% year over year.
- Operating margin changed +92.3 percentage points in the latest annual period.
- Net margin changed +84.2 percentage points in the latest annual period.
Evidence challenging the case
- Product pipeline and R&D has repeated adverse evidence across 4 filings.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
- Foreign exchange has repeated adverse evidence across 3 filings.
Questions before a position
- EV/sales is 67% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
26.436m+13.5%12m+77.0%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$26.7M-31.5%$-4.61+3.5%
2022-12-31$412.5M+1446.0%$1.90+25.2%
2023-12-31$76.0M-81.6%$-1.72+5.5%
2024-12-31$76.3M+0.4%$-1.62+10.2%
2025-12-31$106.0M+38.9%$-1.08-0.6%
What management says matters
Persistent and emerging business drivers
Restructuring and cost reductionsnegative · 4 filings
“These decreases were partially offset by higher salaries and benefits, reflecting costs associated with previously disclosed leadership transitions, including severance‑related expenses recognized during the period.”10-Q · May 7, 2026 ↗
Foreign exchangenegative · 3 filings
“Other income, net for 2024 included $19.9 million of interest income and $0.8 million of foreign exchange gains, partially offset by other miscellaneous charges.”10-K · Mar 2, 2026 ↗
Legal and regulatory exposuremixed · 1 filings
“As such, biosimilars are subject to existing laws and regulations outlined in the Patented Medicines (Notice of Compliance) Regulations and the Food and Drug Regulations , and related guidance documents.”10-K · Mar 2, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 18.8× · EV/sales 18.4×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
26.43-2.7% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for ZYME. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for ZYME. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind ZYME
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
ONCBeOne Medicines AGpartnerMay 7, 2026 ▾
“We have entered into separate collaboration and license agreements with BeOne Medicines Ltd.”
JAZZJazz Pharmaceuticals plcpartnerMay 7, 2026 ▾
“We have entered into separate collaboration and license agreements with BeOne Medicines Ltd.”
MRKMerck & Co., Inc.partnerMay 7, 2026 ▾
“Platform Partnerships We continue to have revenue-generating strategic partnerships and collaborations with respect to our Azymetric and EFECT therapeutic platforms with the following pharmaceutical companies: GlaxoSmithKline Intellectual Property Development…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 10 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
ZYME is currently a Follower in the organic co-movement group Oil & Gas and Biotech. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for ZYME; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.